17th November, 2003
Statement on "Diamond Weekly" report (Nov.22nd edition) concerning establishment of LCD Joint Venture between Samsung and Sony
The following information is true and accurate at the time of publication.
November 17, 2003
Statement on "Diamond Weekly" report (Nov.22nd edition) concerning establishment of LCD Joint Venture between Samsung and Sony
Samsung Electronics, Inc.
Sony Corporation
In the November 22nd edition of "Diamond Weekly" there is an article on "Establishment of Joint Venture for the 7th generation amorphous TFT LCD between Samsung and Sony" which contains several erroneous statements.
Samsung and Sony have signed a MOU which will create a fair and equal relationship between both companies. There is no time limit to the operations of the JV and there is no change in the investment ratio from each company. The agreement is based on the premise of an equal amount of investment and equal management from each company. There is no condition that Sony' engineers and staff cannot enter the factory. The final agreement is targeted to be signed by next spring.
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